TORONTO, Nov. 25 /CNW/ - Notice is hereby given that an appearance will be held before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), on Tuesday December 1, 2009 at the offices of IIROC, located at 121 King Street West, Suite 1600, Toronto, Ontario, at 10:00 am or as soon thereafter as the appearance can be held, to set the date for a disciplinary hearing in the matter of Hector Wong (the "Respondent").
The proposed hearing concerns matters for which the Respondent may be disciplined as a Regulated Person of IIROC, pursuant to Part 10 of IIROC Dealer Member Rule 20.
The hearing concerns allegations that the Respondent:
In or about September to December 2006, as an Officer (Trading, Resident)
of a Member of IIROC, engaged in business conduct or practice which is
unbecoming or detrimental to the public interest in that he
misappropriated funds from his member firm employer by executing
transactions in US treasury bills which had the net effect of generating
profits in two of his personal accounts at the expense of the inventory
account of his member firm employer, contrary to IIROC Rule 29.1.
IIROC formally initiated the investigation into the Respondent's conduct on May 29, 2007. It is alleged that the violations occurred when the Respondent was an Officer (Trading, Resident) with the Toronto Branch of Hampton Securities Limited. The Respondent is no longer a registrant with an IIROC-regulated firm. The matter has been reported to the Toronto Police Services.
The hearing is open to the public, unless the Hearing Panel orders otherwise.
IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information: For further information: Alex Popovic, Vice President, Enforcement, (416) 943-6904, firstname.lastname@example.org; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, email@example.com